Credit Card Statistics

Credit Card Statistics show economists and credit card users alot about the state of the economy. Spending habits, average balances, and interest rate trends are just a small portion of the statistics constantly monitored and measured by organisations like the Reserve Bank of Australia (RBA).

Credit card statistics might be extremely boring to read - take it from me - but they do give us valuable consumer data nonetheless. Credit card companies use this data to gage the market and increase or decrease their offers, interest rates and a lot more. But most important of all, the government will no doubt use these statistical findings to plan for the financial future of the Australian people.

I've had the 'privilege' to analyse data about the spending habits of Aussies in regards to credit card and what I have found has been very interesting indeed. But before I bore you to death with credit card statistics I figured why not present this article in a sense that makes it easy to comprehend for most people.

Therefore I have structured the analytical data into easy to follow 'chapters.'

From then to now: credit card statistics January 1985 to May 2009.

All data relates directly to credit card and charge card statistics in Australia during that time span and if you look closer into the habits of consumers you'll find some interesting cycles.

It is also interesting to note that during the early 1980s recession figures were considerably down, however over the course of the whole time span, all figures in the data have risen gradually if not sometimes a bit erratically due to economic influences.

Cash advances value in $m.

Back in the early 1980s our cash advances run in the figures of $110,83 million on average during the year of 1985.

Conversely, during the year to May 09, the monthly average was $1020,33 million each month. A massive increase in our demand to keep up with increased costs and spending.

Credit card purchases value in $m.

Our spending has also gone up a lot. During 1985 we spend on average of $546.58 million each month with the help of credit cards and charge cards. In the year up to May 09 this monthly figure has increased to $ 14,537.5 million.

If we place these figures in direct relation to cash advances we see a massive hike in consumer spending. It seems that Australians have fallen in love with their cards and use them just about for most purchases made.

This is no surprise as back in the older days many people were still tossing up their opinion about the risks of cards. They preferred cash.

Balances total value in $m.

Credit card balances back in 1985 on average were $2,626.83 million a month. Last year ending in May 09 the average monthly credit card and cash card balance was $44244.91 million.

Credit limits value in $m.

Credit limits have risen from $7533 million in January 1985 to $122898 million in January this year.

By looking at the credit card statistics over the past 24-years or so we can clearly see that credit cards are here to stay. They are just too easy to be used and as long as we can control our spending urges we should take advantage of their portability and ease of use.

Credit Card Finder are commiteed to providing our users with the most up to date Credit Card Statistics on the Australian market and abroad. The following articles incorporate credit card data and statistics that we've gathered over the years:

For more statistics, visit the RBA website.

• Australian Credit Card Statistics: Payment Transactions Volume & Value
  

  Discover why debt is such a big issue in Australia. This article reveals all the statistics in relation to how much money we spend on our credit card transactions, EFTPOS and ATM withdrawals.



• Australian Credit Card Statistics: Number Of Credit Card Accounts
  

  If you are interested in credit card statistics for Australia you may be surprised that credit cards are actually on the decline while debt cards are on the rise. Find out more interesting statistics in this article.



• Credit Card Use: Australian Credit Card Usage Statistics
  

  Credit card statistics can provide you with some important answers in regards to consumer behaviour. Plus you’ll gain insights into the biggest mistakes people make because of a lack of knowledge. A must read for any Australian who currently holds at least one credit card.



• NetBank Internet Banking Facts From NetBank Pulse
  

  NetBank is Commonwealth’s Internet banking facility. With NetBank Pulse you are directly informed about Australia’s credit card statistics and how these could influence your spending habits.



• State Of The Australian Credit Card Industry: Statistics & Trends Report
  

  To get a better understanding of Australian credit card users and the way they use credit cards, and what they want is most important to them about their credit cards, we conducted a survey earlier this year and gathered some very interesting data and statistics.



• The Effect of the Global Financial Crisis on Australian Credit Card Companies
  

  Australian credit card companies haven’t been able to avoid the foul swoop of the GFC, and have certainly experienced tougher times. Read our article which goes in to the situation further for Australian credit card providers.



• Drop In Credit Card And Debit Card Usage Statistics
  

  Australians seem to be gaining a little bit on credit card use. There was more then 19 billion dollars spent this year then last year. Payments on those debts is up and purchases are down.



• Myer One Credit Card Statistics
  

  The Myer One credit card has been an extraordinary success for Coles Myer being used by loyal customers looking to gain rewards points through the card’s rewards program. Check out the latest stats released by Myer.



• Aussies Paying Down Credit Cards And Accruing Less Interest
  

  The Australian Bankers Association has just released figures that show Australians are reducing their credit card interest repayments. The statistics show a fall of $83 on a per card basis.



• Credit Balance Transfer Awareness and Trends in Australia
  

  Credit balance transfers are a valid way to consolidate your credit card balances with a 0% for 6 months offer meaning you wouldn’t have to pay any interest on your credit card debt. How many Australians are aware of the benefits of a balance transfer? We’ve done some investigation and have analysed the trends in the number of searches demonstrating interest awareness of balance transfers – the results are very interesting!



• Survey Finds Australians Know Their Fees yet Still Pay Regular Penalty Fees
  

  The current economic climate has raised concern over how Australian consumers are acting towards their finances, credit and debt.

  
  

  A new survey has found that despite knowledge of credit card penalty fees, a significant percentile of Australian consumers continue to pay ancillary credit card fees.



• RBA Statistics: Credit Card Balances Rise, Repayments Climb Even Further
  

  What happens to credit card usage in a recession? Do people wise up and spend less, or are they desperate for funds and turn to credit?

  
  

  Find out what the RBA has recently derived from recent credit card statistics between February-March 2009.



• Australian Credit Card Spending: On the Rise in 2009
  

  The Reserve Bank of Australia recently released statistics on credit card usage between January and February of 2009. Credit card transactions are down, yet debt has increased. While the figures appear contradicting on the surface, there is a reasonable explanation for coexist.



• Credit Cards Continue to Conquer Online Shopping
  

  A recent and growing trend in Australia and the rest of the Western world is the increased market share of credit cards becoming a favored avenue of online shopping.
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  We investigate the reasons and statistics behind the trend – see here for the inside scoop.



• The History of Credit Cards
  

  Credit Cards today have become an accustomed part of everyday life, whether it’s used for groceries, petrol or just everyday expenditure. The credit card has become natural for at least one type of payment. Today’s credit cards have evolved from a variety of credit schemes used throughout the 1920s mostly in the United States, designed to sell fuel to a large increase in cars, which was handed out by the oil companies to use their goods.

  The concept was a sheet metal card that held the customers name, city and state but no address. However the cards were only used for specific companies, it was not until the 1950’s where the first major card company (Diners Club) had evolved the card into a card that could be used throughout most businesses that took credit cards.



• Fraudulent Credit Card use in Australia – How Bad is it?
  

  Credit card fraud is quite prevalent in the US and UK, but how does Australia compare?







Editor's Choice: Our Top Credit Cards




Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
St George Vertigo	Editor's Choice: Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers	16.99%	16.99%	1.99% for 9 months	$0	55